CanAlaska Uranium Ltd., a uranium exploration group, announced that it will spin out five nickel properties and other assets during its April 2021 Annual General Meeting and Special Meeting of Shareholders. The properties, which are located in Northwest Ontario, host six Different Types of Nickel Resources. They are all intended to be further developed and brought into production within the next few years.
The move by CanAlaska marks a major step for the company, which has its headquarters in Vancouver, British Columbia. The five properties in question boast an impressive amount of estimated nickel resources of 21,140,000 tonnes of nickel, as suggested by recent preliminary resource estimates.
The figures for this new mineral resource estimate are robust and encouraging, as the properties contain above average grades. In addition, CanAlaska has also reported an additional 2,500,000 tonnes of copper-nickel resources on the two properties that contain nickel.
The five properties are under the careful watch of CanAlaska’s president, Peter Dasler. In anticipation of the spinout, Dasler said, “The market has been waiting for these nickel assets to move forward to exploitation-stage development. This spinout transaction will enable that to happen.”
The spinout is a strategic move meant to unlock the value of CanAlaska’s nickel assets and generate capital for use in current exploration work. Any proceeds from the spinout will be used to add value to CanAlaska’s mineral assets by providing advanced exploration work and to establish its presence in the nickel market.
The company has set a date for its Annual General Meeting and Special Meeting of Shareholders for April 13, 2021, at 9:00 a.m. Upon completion of the spinout, the nickel assets will then be placed into a new mining asset company based in North America.
People looking to learn more about the spinout should visit CanAlaska’s website for the latest news and announcements. Additionally, investors who want to discover the potential of CanAlaska’s nickel properties can follow the company’s upcoming news releases, which might just shed some light on the bright future of their holdings.
